MNDCP contribution limits
 

You may contribute as little as $10 per paycheck up to 100% of your includible compensation or the yearly maximum contribution limit set by the IRS, whichever is less.

If you contribute both pre-tax and Roth after-tax dollars, your combined contributions cannot exceed the Annual Maximum Contribution Limits.

The limit also includes any employer matching contributions to your account.

  
Annual Maximum Contribution Limits
Participant Age 2026
Under Age 50 $24,500
Age 50 & Over1 $32,500
Age 60, 61, 62, 631 2 $35,750
Age 64 & Older1 $32,500
Catch-Up Provision3 $49,000

 

 

 

 

 

 

 

1Effective January 1, 2026, the SECURE 2.0 Act requires all age-based contributions to 457(b), 403(b) or 401(k) retirement plan be made on a Roth basis for those whose wages (as defined for Social Security FICA tax purposes - i.e., Box 3 of form W-2) for the preceding calendar year exceed $150,000 (indexed for inflation). Learn More

2Effective in 2025, the SECURE 2.0 Act increases the contribution limit for participants age 60, 61, 62 and 63.

Q.   When is the age determined?

A.    A participant's age is determined at the close
        of the calendar year. The increase applies to
        eligible participants who would attain age 60
        and would not attain age 64 by the close of
        the calendar year.

       For example, a participant turning age 60 in
       December 2026 will be eligible for the increased
       contributions as of  January 1, 2026 because
       they will attain age 60 in 2026.  A participant
       turning age 64 in June 2026 will not be eligible
       for the increased contributions because they
       will attain age 64 during 2026.The age 64 & Older
       contribution limit will apply to  this participant. 
 

Q.   What happens to the age 60-63 contribution
       limit after the participant turns age 64?

A.   The contribution limit reverts to the age 50
       & Over limit.

3The Catch-Up Provision may allow you to make up for under-utilized contributions in past years and contribute up to twice the Under Age 50 contribution maximum limit if you are within three years of your normal retirement age (the age at which you are eligible for an unreduced pension benefit).

To be eligible for the Catch-Up Provision, you must apply and be approved to contribute up to the Catch-Up limit. To apply or for more information, call 1-800-657-5757, option 3.

How to change your contribution amount
 

You have three options to update your MNDCP contribution amount:

1. Login to your account online 

  •   Select Go to Savings Plans at the top right of the page

  • Note: If you have multiple defined contribution plans, you must choose MNDCP

  • Select Contributions & Savings

  • Select Manage Contributions  

  • Select Update My Contributions
    Choose Percentage or Dollar Amount radio button
    Enter the amount you would like to contribute each pay period
    or use the slider to select the amount. And choose if you would
    like to contribute pre-tax or Roth after-tax dollars

  • Select Save Contribution Updates
    To automatically increase your savings annually, select the Yes 
    radio button. If you do not want to automatically increase your
    savings yearly, select the No radio button

  • Select Continue

  • Review the changes and select Submit

  • Select Close to return to your account information

 

2.  Submit a Quick Deferral Change form

 

3. Contact the MSRS Service Center at
    800.657.5757

 

Hennepin County Employees

Login to APEX and follow these instructions:

  • Select Deferred Compensation under benefits

  • Select Enroll/Change Deferred Comp

 

About one-time deferrals

The MNDCP can accept certain one-time (lump sum) deferral such as overtime pay, paid time off payments (vacation or sick), compensatory pay, severance payments.

We recommend you work directly with your Payroll department for any one-time deferrals to the MNDCP. Your Payroll department will determine eligibility requirements and payroll timelines.
 

About employer matching dollars

Please confirm with your employer directly if they offer matching dollars to your MNDCP account.

If you are a State employee, most unions match a portion of your contributions to the MNDCP. More Info